Money.
We all want and need it. We generally know how to get it, and where we have to spend it. But, how aware of our finances are we really? Do we really know how much we ought to be spending on things? Chances are you’re actually spending way more than necessary on things that can really add up over time, and you’re gonna be needing that money. Every important life decision costs more than you know: weddings (rings, ceremonies, honeymoons), babies (health screenings, childbirth, and raising the kid), bills (utility, phone, internet, TV), cars (insurance, maintenance, gas), and homes (yikes).
My mother has taught me how to be smart with my finances, and as I interact with more and more people, I notice that so many people just love throwing money around. Well, maybe they don’t, but possibly they just aren’t aware of how much less they actually should/need to be spending. In today’s post, I’ll hit on a few categories of expenses, and how you may be overpaying, as well as general tips and tricks for saving money now.
1) Phone Bills: Here’s something you’re almost definitely spending way too much money on. Sure we may need the latest smartphones nowadays with talk, text, and data, but what if I told you I am able to have the newest iPhone 6 with those things for $35 a month? Yep, it’s true, and you won’t need to sacrifice much at all. Typically, I find my friends even (college kids with low disposable income) are paying roughly $80-90 a month for phone service. Are you kidding. How are you not poor. Oh, well, actually they usually claim to be. So here’s the breakdown: Don’t fall for 2 year contracts! A lot can change/happen in 2 years, and you’ll be selling your soul by signing up. Try a non-contract plan like BoostMobile, on which you can choose what you need, and still get the newest, coolest phone, and pay ~$40 a month. Sure you may have to pay for the phone itself out of pocket, but if you add it all up, it’s still a huge money saver.
2) Internet & Cable: Is cable really even necessary? Opt for something like Netflix, which, in combination with Internet access to the the entire world wide web can get you any and all shows you want to watch, and you will be able to do so on your own time. Save the cable for when you start your own family down the line, if you realllly must.
3) Food: Studies have shown Generation Y and the present youth/ young people spend most of their disposable income on food. That’s because they eat out (and drink out) a lot. Well, that’s going to eat up your funds super quick. Eating out, or even grabbing a bite here or there will ultimately make you very poor very fast. Even that daily coffee. Opt to get your butt out of bed 30 minutes earlier and make it yourself. Make your own lunch. Cook your own dinner. If your excuse is not enough time or lack of skills, keep your eyes peeled for upcoming blog posts that will absolutely obliterate these “issues.” Cooking is really quite simple. No more excuses.
4) Recreation/Entertainment: Chances are you love hanging out with friends and family on your down time. And good for you! But chances are you’re spending way more than necessary to have some fun with friends. Movie tickets are very expensive, then add theatre snacks, and you’ll most certainly be in the hole in no time. Another terrible trap is going out clubbing or to bars for drinks. These are often so overpriced, why not stay in with friends, watch Netflix, make tons of your own awesome food, and get nice wine, not shitty, expensive cocktails or beer. Better yet? Don’t drink. You’ll save a freaking buttload.
Make sure to be creative. Consider all the free and cheap things you can do: walks, picnics, getting together for Cards Against Humanity. Photo sessions with your pals, potlucks, walking around town and grabbing a $.99 ice cream cone at Mc.D’s. Check your local paper or online for free events, treats, and eats! There are so many awesome ways to spend time with people, you just gotta look!
5) Lifestyle: Eat less. Smaller portions. Drink water at restaurants. The human body actually doesn’t need the positively monstrous portions of food we often feed it. The obesity epidemic is very real, and we are contributing. Eating less will make you feel better, and achieve better overall health, saving you from heart disease, high cholesterol, diabetes, and many other issues that will be expensive to treat down the line. Turn off lights, take shorter showers. There are so many small changes you can make in your daily life. Drive a car that isn’t a gas-guzzler. If you have a hobby, try not to choose something super pricey unless you have the money. You probably don’t need a gym membership to work out and stay in shape. Do it yourself. You don’t need to get acrylics done every three weeks (or at all). You don’t need expensive deodorant, shampoo, or body wash. Choose cheaper options or generics. Trust me, you’ll be fine.
Money Saving Tips and Tricks
- DO NOT LIVE PAYCHECK TO PAYCHECK.
- Cut down on your phone bill
- Don’t buy designer clothes
- You don’t need Chanel makeup right now
- Starbucks every day isn’t necessary (plus it’s pretty crappy coffee)
- Stop eating out
- Stop being lazy
- Turn off lights and water when not using them
- Turn off TVs and unplug plugs that aren’t being used (like chargers that aren’t charging anything)
- Take shorter showers (you’ll still get clean)
- Buy generic
- Skip the gym and personal trainers
- Take the bus or carpool when you can to save gas money
- Don’t spend money on things spur-of-the-moment
- PRETEND YOU DON’T HAVE MONEY EVEN WHEN YOU DO.
- If you get a raise or more money, put it directly into savings.
- Always have a good amount in savings, even if it seems pointless, and don’t touch it.
- Grocery shop and cook your own food
- Don’t go out as much
All in all, there are tons of ways to save money. Look inside your heart. Do you really need what you want to buy? Will that make you as happy as an amazing future? Personally, I’ll skip buying things now, because I cannot wait to have a family and see the happiness in their eyes when we are able to be comfortable, not in debt, or living from paycheck to paycheck. Even if you’re young, you’ll need the money later, trust me. Please be smart. I absolutely cannot stress enough the importance of finances. Don’t cause yourself and your loved ones stress, and make changes yourself without them telling you. No one likes to nag their partner about “saving vs spending.”And I know people like to “treat themselves” sometimes, which is fine, but only within reason. Spending money in this way is actually ironic, because it will make you more stressed out when you realize you’re poor.
I have tons more where that came from, so let me know if want more savings tips, and hope everyone is having a wonderful Sunday!
-V





